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Social Responsibilities of a Businessman
Transcript of Social Responsibilities of a Businessman
It is concerned with low individuals and organizations deal with current social issues.
The general public has a rather broad and all- inclusive definition of the social responsibilities. In short, social responsibility has come to mean participation in a multitude of issues and problems It is in the best interest of the business to promote and improve the communities where it does business
Social action can be profitable.
It is the ethical thing to do.
It improves the public image of the firm.
It increases the viability of the business system. Business exists because it gives social benefits. Society can amend or take away its charter. This is the "iron law of responsibility."
It is necessary to avoid government regulation.
social-cultural norms require it.
Laws cannot be passed for all circumstances Thus, business must assume responsibility to maintain an orderly legal society
It is in the stockholder's best interest. It will improve the price of the stock in the long run, because the stock market will view the company as less risky and open to public attack and therefore award it a higher price-earning ratio.
Society should give business a chance to solve social problems that government has failed to solve.
Business is considered by some groups, to be institution with the financial and human resources to solve social problems.
Prevention of problems is better than cure - so let business solve problems before they become too great. Major Arguments Against Social Responsibility It might be illegal.
Business plus government equals monolith
Social actions cannot be measured.
It violates profit maximization.
It violates profit maximization
Cost of social responsibility is too great and would increase prices too much
Business lacks social skills to solve societal problems
It would dilute business's primary purpose
It would weaken the government's balance of payments, because price of goods will have to go up to pay for social programs.
Business already has too much power. Such involvement would make business too.
Business lacks accountability to the public. Thus, the public would have no control over its social involvement.
Such business involvement lacks broad public support. Business
Investors Employees Community Government Suppliers Customers 10 Commandments for Moral Executives 1. Thou shalt not bear false witness in the books and records of thy employer
2. Thou shalt not play games with numbers
3. Thou shalt speak the truth to thy boss, even though he may not want to hear it.
4. Thou shalt rattle on thy neighbor when he is doing something wrong.
5. Thou shalt keep thine eyes wide open. 6. Sin not, nor help thy brother to sin, for thou art thy brother's keeper
7. Thou shalt not have two masters - thy boss and thyself
8. Thou shalt not seek to profit by use of thy employer's confidences.
9. Honor thy father and thy mother and, in addition, thy auditors.
10. Obey the real Ten Commandments. Report by:
Rosemarie Diane Yusi